We own a deeded TS in Orlando paid off. The fees went up from 800$ to 1200$
We own a deeded TS in Orlando paid off. The fees went up from 800$ to 1200$
We own a deeded TS in Orlando paid off. The fees went up from 800$ to 1200$ this yr. We have excellent credit. We can't pay next yrs. fees. I have tried selling, donating, and renting it. Nobody wants it. We even got scamed 450$ by a company that guaranteed that it would sell. Taxes and maintenance is part of the annual fee. Will the turn us in to the IRS? Will we be sued and have to file bankruptcy over this? I can't sleep at night because of this. The Fees are due in Dec. and that has made Christmas very difficult each yr.
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I'm sorry for not being online much and therefore unable to answer you earlier. I hope you've slept since you wrote this over a month ago.
Renting would seem like a reasonable thing to do if you can find someone to rent from you - Orlando's a popular place. As for what can be done if and when you don't pay the fees...the Timeshare folk will ultimately take back your unit and try to resell it to someone else, eventually. Will they "turn you in" to the IRS? I'll say no, but I'm not a legal expert; so you will be wise to consult with a lawyer on that item, and call the IRS if you need to.
Please don't lose sleep over this.